Ratings on UOB Thai's Senior Bonds Not Affected by Revised Tranche Structure

Monday 11 April 2022 17:04

Fitch Ratings (Thailand) confirms that the 'AAA(tha)' rating on United Overseas Bank (Thai) Public Company Limited's (UOBT; AAA(tha)/Stable) upcoming issue of senior unsecured bonds will not be affected by the bank's plan to issue the bonds in tenors of two and three years.

The bonds are rated at the same level as UOBT's National Long-Term Rating as they represent the bank's unsecured and unsubordinated obligations.

See Fitch Rates United Overseas Bank (Thai)'s Senior Bonds 'AAA(tha)', dated 28 March 2022, and Fitch Affirms UOB Thai at 'A-' and 'AAA(tha)'; Outlook Stable, dated 7 May 2021, for details on the rating drivers and sensitivities for UOBT and the senior unsecured notes.

Source: Fitch Ratings

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